Return
This query is : Resolved
23 May 2013
Income for compulsary filling of return for individual is after considering deduction u/s VI ?
Ganeshbabu K
(Expert)
23 May 2013
No, it is before chapter VIA deductions i.e, with out allowing Chapter VIA deductions, if income exceeds BASIC EXEMPTION LIMIT you need to file return-139(1),
However if assesse is having only salary income
and income not exceeding 5 lacs(after all deductions), it is not mandatory to file ITR
However if assesse is having only salary income
and income not exceeding 5 lacs(after all deductions), it is not mandatory to file ITR
23 May 2013
Yes after considering chapter VI deductions, because the words used in section 139(1)(b) is 'total income' which means taxable income.
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